Fiscal Year 2019-2020 Highlights
 
Income
In March–June 2020, we experienced a reduction in income due to the various effects of the COVID-19 pandemic, which required us to temporarily shut down the building. This includes reduction in Sunday Giving, Fundraising Income, Facility Rentals, and delayed funerals. The good news is that Sunday Giving eventually came in at 99.67% of budget—which is actually an increase of $12,251 over last year! This is the result of so many people giving generous one-time gifts and switching to electronic giving.
 
Expense
While most of our expenses are fixed (i.e. Payroll & Benefits and Building/Facilities), we were able to reduce our variable expenses somewhat due to the pause of some programs. In addition, the Archdiocese’s quarterly assessment to parishes was discounted to help parishes during this difficult time.
 
Our expenses in FY21 should remain flat, as we are splitting the costs of having two priests with Assumption (i.e. Fr. Liekhus is living in the St. Richard-owned townhouse, while Fr. Mario’s living expenses are being paid by Assumption).
 
Payroll Protection Program
We applied for and received a PPP loan of $94,000. This allowed us to keep our staff intact when everything was so uncertain this spring. We expect that amount will be forgiven and it will show up in FY21 as income received.
 
Capital Fund
During this time, we completed the last major project of our Sharing Our Gifts Building Our Future Capital Campaign, which was re-surfacing the parking lot and associated concrete replacements. Additional improvements to come this year include installing handicapped access and a security camera to Door 5.
 
If you have questions regarding the unaudited operational report the follows, please contact the Parish Trustees, any Finance Council member or Parish Administrator Sheryl Rose.